Photo courtesy of The Davis Cos.
One of Boston’s biggest developers is getting a new CEO on April 1 as a father hands the reins to his son.
Jonathan Davis, founder and CEO of The Davis Companies, is set to step down from his CEO position in favor of his son and the company’s president, Stephen.
The elder Davis will become the company’s executive chairman. The company pledged he’ll “remain actively involved” in strategy discussions, deals and the investment committee governing the DIV Funds. He’ll also continue to provide advice to the company’s executives and interact with investors, The Davis Companies said.
“I have great pride and confidence in Stephen, both professionally and personally, and I am enormously gratified by his success,” Jonathan Davis said in a statement. “I firmly believe he is the right person to ensure we remain a nimble company and build upon the entrepreneurial culture and exacting standards that have been so integral to our sustained growth over the past 50 years. With Stephen at the helm, working closely with our highly talented and committed executive team, I am confident that our firm is well positioned to achieve even greater success going forward.”
Stephen Davis joined the company 16 years ago, and was named president in 2021.
“I am honored to assume this new role and to lead the opening of a new chapter in the history of our firm. With the sustained support of my father, our investors, and my entire team of extraordinary colleagues, I have no doubt in our ability to continue building upon the standards of excellence that have defined our work over the past five decades,” he said in a statement. “We have the best team in the industry. I am excited to lead Davis alongside them in our next phase of growth.”
The Davis Companies currently maintains a 39 million-square-foot portfolio of commercial real estate across the United States, including 14,700 residential units. One of its largest current projects is the 7.2 million-square-foot Everett Docklands development, which seeks to redevelop a former oil tank farm in Everett into a mixed-use business district with housing, lab and industrial space.
